South Pasadena Altos de Monterey Homes Market Update
This is a market update for the Altos de Monterey neighborhood in South Pasadena for real estate activity so far in 2015.
Also known as The Altos, the neighborhood was first developed beginning in the 1960s to the 1980s. Statistical information in this report has been gathered from our local multiple listing service(mls) and may not include all transactions in the neighborhood.
The Altos neighborhood is different than what is thought to be typically South Pasadena where character style homes on tree-lined streets are quite common. Homes in this neighborhood vary in architecture but are generally much more modern. The setting is in the hills just south of Monterey Road and many of the custom or semi-custom homes have some incredible views. It should be noted that lot sizes may appear quite large(on paper) but often times, these are not always flat which while nice are not workable for everyone and is definitely a consideration when considering market price.
It still is common to find original homeowners in the Altos de Monterey neighborhood and when these homes come on the market, they often provide wonderful opportunities to transform them into the 21st century.
As is true in the rest of South Pasadena, there are well-regarded South Pasadena schools, unique shopping and dining and the weekly Farmers Market near the city’s Gold Line light rail station which in many ways symbolizes the small town community aspect that makes the city commonly known as South Pas so popular.
There are currently no Altos de Monterey homes on the market for sale although one home shows a status of “Hold” -- perhaps it has been taken off the market for the holidays. It is a four bedroom home with approximately 3117 square feet that was last priced at $2,480,000. There is one home in escrow. So far in 2015, there have been twelve mls-reported closed transactions. These sales ranged from $856,000 to $1,920,000 with an average sales price of $1,398,673(median sales price $1,425,000). They have sold at 105.84% of last list price and for $564.30 per square foot on average.
For full year 2014, there were ten sales which ranged from $1,093,000 to $1,585,000 with an average price of $1,416,390(median $1,492,950). They sold on average at 105.15% of last list price and for $613.97 per square foot.
For full year 2013, the total was 16 sales which ranged from $910,000 to $2,550,000 with an average sales price of $1,388.319(median $1,218,750). They sold at 99.28% of last list price and for $495.37 per square foot on average.
Since the size and condition of homes varies greatly, a more detailed look at a particular home is necessary in order to arrive at an offer or listing price. If you would like to discuss more detailed information regarding the Altos de Monterey neighborhood or any South Pasadena real estate whether you are a prospective buyer or seller contact me at 818.516.4393 cell. Let’s discuss what is important to you.
Published: November 28, 2015
South Pasadena Altos de Monterey Homes Market Update
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